fiscal cliff

  1. a governmental or personal financial crisis that is brought on by economic factors or policies: High housing costs have pushed many families over the fiscal cliff.Some municipalities are on the edge of a fiscal cliff after years of overspending.

  2. (specifically) a financial crisis that threatens to disrupt the economy or personal finances and is brought on by steep governmental spending cuts and tax increases: Congressional legislation to avert the fiscal cliff.

Origin of fiscal cliff

First recorded in 1950–55

Words Nearby fiscal cliff Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2023

How to use fiscal cliff in a sentence

British Dictionary definitions for fiscal cliff

fiscal cliff

  1. informal a situation in which sudden changes in government expenditure and taxation have a profound effect on a country's economy

Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012